The GBP/USD pair initially tried to rally during the course of the day on Monday, but turned back around at the 1.57 level to this market pullback. With
The GBP/USD pair initially tried to rally during the course of the day on Monday, but turned back around at the 1.57 level to this market pullback. With this, we believe that the market continues to consolidate in general, as the 1.55 level below is massively supportive. It is supported by not only the 1.55 round number, but also the 100 day exponential moving average that is at that level as well. On top of that, the uptrend line should continue to push this market higher as well, as we reach towards the 1.60 level.
GBP/USD Forecast August 18, 2015, Technical Analysis
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
